TransUnion CIBIL Score & Report | How to Check

TransUnion CIBIL is an RBI-licensed credit bureau authorised to collect, maintain and manage credit information provided by financial institutions. It generates CIBIL Score for individuals and CIBIL Ranks for companies. CIBIL report helps understand a borrower’s credit behaviour. CIBIL score and CIBIL Rank helps lenders assess the risk of lending and approve credit applications.

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What is TransUnion CIBIL?

TransUnion CIBIL is India’s leading and most trusted credit bureau that collects and manages consumer information, as provided by the lenders every month.

At the time of credit application approval, lenders consider the CIBIL report, as the primary determinant to analyse the creditworthiness or the risk involved in lending money to the borrower. Therefore, it becomes highly important for financial institutions to check the CIBIL report in their loan approval process.

In the following sections, we will discuss key details about India’s leading Credit Information Company (CIC), TransUnion CIBIL and its role in the borrowing or lending process.

What is CIBIL Score and CIBIL Report?

Credit score generated by TransUnion is known as CIBIL score. The detailed credit information report containing your CIBIL score is known as CIBIL report.

CIBIL Score Range – What Does Your Score Mean?

CIBIL score ranges between 300 and 900. Closer the score to 900, more is it considered favourable for loan or credit card approval. Let us understand the CIBIL score range and its significance in detail.

*These credit score ranges (i.e. Excellent, Good, etc.) are based on Paisabazaar’s own criteria and are generally accepted in the industry.

Steps to Check Your CIBIL Report for FREE

Follow these simple steps to check and download your CIBIL Score and receive monthly updates:

Step 1: Click here to check your CIBIL score

Step 2: Enter your basic details, such as name, mobile number, and email address and verify it by using OTP authentication

Step 3: Click on the ‘Get Credit Report’ button to know your credit score

Step 4: Select the CIBIL score, choose the language and month, and click to download your credit report

You have to follow these steps only for the first time. From next, you can simply login to your Paisabazaar account and check your latest updated CIBIL score.

Your CIBIL report is secured and you will have to enter a password to view report. Your Date of Birth (DDMMYYYY format) is the password of your downloaded CIBIL report pdf.

Note: If you find any discrepancy in your credit report, you can raise a dispute with CIBIL.

Components of CIBIL Report

The following are the various components of the CIBIL report:

Note: CIBIL credit report provides a detailed historical record of how an individual has handled debt in the past. Please note that the credit report does not include details of an individual’s investment or savings.

Also Read: 7 Easy Steps to Improve your Credit Score

What is CIBIL Rank?

TransUnion CIBIL calculates and generates CIBIL report and CIBIL score for individuals, as well as a commercial Company Credit Report and CIBIL Rank for companies, enterprises and organizations.

• TransUnion CIBIL calculates and generates CIBIL Ranks for businesses, MSMEs, enterprises and organizations.
• CIBIL rank serves as a numeric summary of the details included in CIBIL’s Company Credit Report(CCR).
• CIBIL Rank varies on a scale of Rank 1 to 10
• CIBIL Rank 1 is considered the best rank with companies at least risk for lenders
• CIBIL Rank 10 is considered the worst rank showing companies at maximum risk or even at default or insolvency.
• As CIBIL rank indicates a company’s past handling of credit, it can significantly affect the chances of getting a new loan sanctioned.

The closer a company’s CIBIL Rank is to 1, the higher the chances of getting approved for fresh credit at lower interest rates.

Role of TransUnion CIBIL in the Borrowing Process

CIBIL credit reports play a crucial role in approving or denying credit applications for new credit, such as loans and credit cards. The details of this process are as follows:

• Financial institutions, such as Banks/NBFCs submit the consumer’s and business’s credit data or consumer information to TransUnion CIBIL.
• It contains details of the past credit behaviour, including account details, outstanding loan amount, repayment history, existing loan/credit card information, enquiries, Days Past Due (DPD) and collateral/security, if any.
• CIBIL collates this data and uses its unique statistical algorithm to calculate and generate Credit Information Reports (CIRs) for individuals that include CIBIL Score.
• It generates Company Credit Reports (CCRs) for companies that contain CIBIL Rank.
• Lenders can check the CIBIL report and CIBIL Score/CIBIL Rank to evaluate the risk of lending to applicants and accordingly approve or reject new loan/credit card applications.
• Applicants with good CIBIL scores are preferred by lenders and are eligible to avail loans at low interest rates, as well as instant credit card approvals.
• New-to-credit individuals do not have credit history (NA)/(NH) and thus, can find it difficult to get preferential loans and cards.
• Applicants with not so good CIBIL scores may be able to avail fresh credit but at stricter loan terms.

Suggested Read: Reasons for Rejection of Your Credit Card Application

Why is the CIBIL Score Important?

• CIBIL score is one of the primary components that lenders check to assess an applicant’s credit behaviour.
• CIBIL score holds major importance in deciding the creditworthiness of the applicant to decide on loan approval or denial.
• Applicants with CIBIL score of 760+ and as close to 900 are considered first by lenders in their loan or credit card approvals.
• A good CIBIL helps in getting credit at low interest rates, along with added benefits.

CIBIL Customer Care

• CIBIL Helpline Number for consumers is (+91) 22-614-043-00.
  (Operational from 10:00 am to 06:00 pm (Monday- Friday))
• Fax: (+91)22-66384666
• You can also write to CIBIL at its registered address. The address is:

TransUnion CIBIL Limited
One World Centre, Tower 2A, 19th Floor,
Senapati Bapat Marg, Elphinstone Road,
Mumbai – 400 013

Read in Detail: CIBIL Customer Care

CIBIL Score FAQs

Q. What is CIBIL Self Service Portal?

Ans. You can avail various services of TransUnion CIBIL by creating a ‘myCIBIL Account’ which provides access to the CIBIL self-service portal.

It includes services like checking CIBIL score, viewing/downloading CIBIL credit report, and initiating correction of report errors through CIBIL dispute resolution.

Q. How long does CIBIL keep an individual’s credit history records?

Ans. CIBIL maintains a record of your credit history for up to 7 years from the date of the last report.

Q. Is the CIBIL score only applicable in India?

Ans. Yes, the CIBIL score is only applicable in India as it is generated based on data provided by Indian lenders only.

Q. Does TransUnion CIBIL have a mobile application in India?

Ans. No, TransUnion CIBIL neither has a mobile application for India nor deos it provide any WhatsApp number to users.

However, partners of CIBIL, such as Paisabazaar.com, have mobile apps through which you can check your CIBIL score with monthly updates.

Q. Does CIBIL publish a wilful defaulters list?

Ans. No, CIBIL does not publish a wilful defaulter list, as it does not maintain any defaulter list. It just maintains a database of cases that contains suit-filed cases and non-suit-filed cases, where a lender can search for a wilful defaulter.

Individual banks and RBI, however, maintains a list of the borrowers who have failed to repay the loan despite their capacity to do so.

Q. How often do banks and NBFCs submit consumer credit data to CIBIL?

Ans. Banks and other financial institutions submit consumer credit record regarding loans and credit cards to CIBIL and other credit reporting agencies every 15 days.

Q. Can my records be edited, altered or deleted by CIBIL?

Ans. No, CIBIL is not authorized to edit, change or delete any of the records of your credit history report. It just collects data from its member financial institutions and evaluates it to generate a credit file report and credit score.

Q. What does a credit score of ‘NA/NH’ mean for CIBIL score?

Ans. CIBIL Score of NA/NH stands for not applicable/no history. It simply means one of the following:

• Your credit history is too short or does not exist at all
• You have not been associated with any credit activity in the last 2 years
• You have add-on credit cards only and thus lack credit exposure

Q. Is NA/NH CIBIL Score a poor credit score?

Ans. CIBIL score of ‘NA/NH’ does not indicate a poor credit history. However, it may decrease the chances of getting a loan sanctioned by some lenders as the risk of lending cannot be estimated by prospective lenders in such cases.

Q. Can I get a loan with a low CIBIL score?

Ans. Yes, some lenders may offer you a loan with a low CIBIL score, as long as you meet the other eligibility criteria. However, you may have to pay a higher interest rate or receive a lower loan amount.

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